Page 63 - Auditinf Electronic System

4. Billing customers and Recording sales

Recording sales is the responsibility of accounting department (A/R group)

a. Sales invoice: the sales invoice is a method of indicating to the customer the
amount of sales and the payment due date.

b. Sales transaction file: Is a computer- generated file that includes all sales
transactions processed by the accounting system for a period which could be
a day, week or month.

c. Sales Journal or listing: includes the same data in sales transaction file but
in manual format

d. Accounts Receivable Master file: A computer file used to record individual
sales, cash receipts and sales returns and allowances for each individual
customer and to maintain customer account balances.

e. Accounts receivable trial balance: this list or report shows the amounts
receivable from each customer at appoint in time usually an aged balance.

f. Monthly statement: a document sent by mail or electronically to each
customer indicating the beginning balance of their accounts receivable, the
amount and date of each sale, cash payments received and credit memos
issued and ending balance due. It is a copy of customer`s portion of accounts
receivable master file

5. Processing and recording cash receipts:

a. Remittance advice: is a document mailed to the customer and typically
returned to the seller with the cash payment. It indicates the customer’s name,
sales invoice number, the amount of each invoice.

b. Cash receipts transaction file: Is a computer- generated file that includes all
cash receipts transactions processed by the accounting system for a period as
a week, month or day. Includes same type information in sales transaction
files

c. Cash receipts Journal or listing: this report is generated from cash receipts
transaction file and includes all transactions for a time period. In manual form.

6. Processing and recording Sales returns and allowances:

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‫جميع الحقوق محفوظة ـ الإعتداء على حق المؤلف بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونية‬